Walmart has delivered another strong quarter, with sales over the key holiday period rising nearly 6% and its earnings surpassing Wall Street’s expectations.
The US supermarket giant posted earnings of $4.24bn (£3.15bn), or 53 cents (39p) per share, with sales climbing 5.6% to $190.7bn (£141.8bn) for the fourth quarter ending January 31. The results are ahead of analyst expectations, with like-for-like store sales, including online, rising 4.6%, building on a 4.5% increase the previous quarter.
Delivery speed was a notable factor in driving momentum, with orders completed in under three hours making up 35% of store deliveries. US ecommerce sales jumped 27%, representing 23% of total sales, while global ecommerce grew 24%.
For the full current financial year, Walmart said it expects net sales to increase by 3.5% to 4.5%.
The results mark the first quarterly earnings report in over a decade to be delivered under a new chief executive. John Furner, who previously led Walmart’s US operations, stepped into the top role this month, succeeding Doug McMillon. During his tenure since 2014, McMillon transformed the retail giant into a technology-driven business and oversaw a sustained period of strong sales growth.
Furner said: “The pace of change in retail is accelerating. It’s exciting. And our financial results show that we’re not only embracing this change, we’re leading it. For our customers and members, the future is fast, convenient and personalised.”
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